A Brief note on Anti-Profiteering Clause

Goods and Services Tax - GST - By: - Prasanna Cp - Dated:- 11-12-2017 - Anti-profiteering rules are as result of lessons learnt from inflation and increased price that was witnessed after GST implementation in other countries, Hence it makes more imp .....

oods or services or the benefit of input tax credit shall be passed on to the recipient by way of commensurate reduction in prices. The Central Government, on recommendations of the Council, by notification, constitute an Authority, or empower an exi .....

or services or both supplied by him. Duties of the Authority Powers of the Authority to determine whether any reduction in the rate of tax on any supply of goods or services or the benefit of input tax credit has been passed on to the recipient by w .....

ction in prices to order: reduction in prices return to the recipient, an amount equivalent to the amount not passed on by way of commensurate reduction in prices along with interest at the rate of eighteen per cent. from the date of collection of th .....

n of penalty. Cancellation of registration. Government seems to push hard with this Clause to ensure the end consumers are benefited and business entity need to prepare itself and pass on the benefits and ensure steady flow of value chain Manufacture .....